For his part in scamming consumers through MOBE, the FTC named Russell Whitney as a defendant in their fraudulent business lawsuit.

Rather than defend the FTC’s allegations and clear his name, Whitney has instead opted to reach a settlement. [Continue reading…]

As expected, rather than fight the FTC’s allegation that MOBE was a $125 million dollar fraudulent business, owner and CEO Matthew Lloyd McPhee appears to be heading towards a negotiated settlement.

Settlement negotiations between Lloyd and the FTC at this stage are well underway but the outcome is still uncertain.

Nevertheless, the FTC appear confident of reaching a settlement.

Defendants McPhee and (Susan) Zanghi have both indicated that they would like to discuss resolving all the claims against them and the FTC, and these defendants have had some preliminary discussions with the FTC regarding settlement that are promising.

So much so that the FTC has taken the unusual step of seeking a $50,000 frozen asset release towards Lloyd and Zanghi’s legal defense. [Continue reading…]

Invia World was launched amid the collapse of the Questra World Ponzi scheme.

Headquartered in Austria and run Daniel Zdesar, who headed up Questra World’s Austrian chapter, Invia World promises a 36 month ROI on individual investments of up to €25,000 EUR.

Following an internal investigation, on May 29th Austria’s Financial Market Supervisory Authority banned operation of Invia World. [Continue reading…]

A third Digital Altitude defendant, Sean Brown, has reached a settlement agreement with the FTC.

In line with previously reached settlements with The Upside LLC and Morgan Johnson, Brown’s settlement has been submitted to FTC Commissioners for approval. [Continue reading…]

Morgan Johnson, a named defendant in the FTC’s lawsuit against Digital Altitude, was the first individual to reach a proposed settlement.

Back in May that settlement was presented to FTC Commissioners for approval, which appears to have since been granted.

On June 29th the FTC filed a Joint Application seeking approval of a permanent injunction and monetary judgment against Johnson. [Continue reading…]

In their lawsuit that alleges Digital Altitude was a $14 million dollar fraudulent business, the FTC identified The Upside LLC as

a California company managed by Mary Dee and primarily used to open merchant accounts for credit card processing.

Mary Dee being one of Digital Altitude’s principals and also a named defendant in the suit.

Whereas Mary Dee is currently still fighting the case, on June 29th the FTC and The Upside LLC filed a Joint Application.

If approved, the application sees The Upside LLC consent to a permanent injunction and monetary judgement. [Continue reading…]

FundsFact provide no information on their website about who owns or runs the company.

The FundsFact website domain (“fundsfact.com”) was privately registered on March 10th, 2018.

The official FundsFact Facebook group has three admins; Martha Hughes, Honey Arbi and C Jacinth Samuel Raj.

Hughes and Arbi appear to be dummy accounts, leaving Raj (right) as the likely owner of the company.

According to his Facebook profile, Raj is based out of Chennai in the Indian state of Tamil Nadu.

It’s probably a safe bet that whoever is behind the other two dummy FundsFact admin accounts are also based out of India.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Biteroi provide no information on their website about who owns or runs the business.

The Biteroi website domain (“biteroi.com”) was privately registered on March 30th, 2018.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

At the heart of Kuvera Global’s “we don’t need to register with the SEC” pseudo-compliance, is the claim that their mining services are provided on an individual basis.

A Kuvera Global affiliate invests in a graphics card, Kuvera Global set that up and then run it to generate a ROI.

We offer Crypto Mining Packages that consist of computer/GPU hardware, operation and maintenance services to provide individuals access to crypto mining.

Our mining hardware (hosting) facility is arranged through contractual partnership and located in Romania.

Each GPU processing card is specific to the package purchased, is individually serial numbered, and the customer may request their hardware to be shipped to them at any time.

We believe our mining services which are physically housed, monitored and maintained in a dedicated facility eliminates variables associated with other mining services that are typically cloud based.

Investview, Kuvera Global’s parent company, argues this fundamental difference exempts them from having to register and disclose the specifics of their mining opportunity with the SEC.

Thanks to the ethereum blockchain, we can confirm that’s baloney. [Continue reading…]

Despite being able to file claims since April, a surprisingly small number of victims have thus far sought to recoup their losses.

Owing to a “substantially lower than anticipated” number of submitted claims, the Receiver is seeking a 90 day submission extension. [Continue reading…]